Financial literacy is critical especially during times of recession. Increasing your financial literacy will help you to become an active rather than passive investor. Helping your kids become financially savvy will help them to avoid some of the pitfalls we adults have sometimes fallen into. Below are some resources to help you and your family learn more about money and investing:
For adults:
Buffet: The Making of an American Capitalist by Roger Lowenstein: This is a biography of Warren Buffet, the greatest investor of all time. It talks about his life and his investment philosophy.
A Random Walk Down Wall Street by Burton G. Malkiel: This book provides a good foundation on investing.
One Up on Wall Street by Peter Lynch: This book, written by a successful former Fidelity fund manager, talks about making money investing in what you know.
Moneyball by Michael Lewis: This book uses baseball analogies to build understanding about how to invest.
For the family:
RichKidSmartKid.com: a computer game that teaches kids about money and finance
YoungInvestor.com: Website with information and games about the stock market
VSE.MarketWatch.com: This online trading game offers access to the resources of MarketWatch.com
Thursday, July 3, 2008
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